Under the depletion allowance method in computing depreciation, the depletion charge is equal to either ______ whichever is smaller.$?

50% of the fixed percentage of gross income or 50% of the net taxable income

Fixed percentage of gross income or the net taxable income

Fixed percentage of gross income or 50% of the net taxable income

50% of the fixed percentage of gross income or the net taxable income

Under the depletion allowance method in computing depreciation, the de

1.	Under the depletion allowance method in computing depreciation, the depletion charge is equal to either ______ whichever is smaller.$?
A.	Fixed percentage of gross income or the net taxable income
B.	Fixed percentage of gross income or 50% of the net taxable income
C.	50% of the fixed percentage of gross income or 50% of the net taxable income
D.	50% of the fixed percentage of gross income or the net taxable income
Answer» C. 50% of the fixed percentage of gross income or 50% of the net taxable income

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Under the depletion allowance method in computing depreciation, the depletion charge is equal to either ______ whichever is smaller.$?

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